# pre algerbra

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susan bought a 6 month \$1,700 certificate of deposit.At the end of six months she received \$63 simple interest. what annual rate of interest did the certificate pay?

In a year then it would be 2 times \$63

So \$1700 times the rate of interest (we will call it X) will equal the interest.
Thus the equation

1700X=(63)(2)
solve for x

X=.074

or 7.4%

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